The Steele State Bank
Cherokee, IA · Owner: Steele Bcorp
$21.9M
total assets, September 30, 1984
$21.9M
total assets, September 30, 1984
The Steele State Bank was a state nonmember bank in Cherokee, IA, owned by Steele Bcorp. It failed on Jan 25, 1985, and Valley BANK&TRUST took over its deposits. At its last report it held $21.9 million in assets.
Updated Oct 11, 2026 · numbers as of September 30, 1984
This bank failed
- Failed on
- Jan 25, 1985
- Assets
- $21.9M
- Deposits
- $20.6M
- Estimated cost
- $3.3M
- Deposits went to
- Valley BANK&TRUST, Cherokee, IA
Total assets
$21.9M
vs a year before: - · -1.2% in a quarter
Deposits
$20.6M
vs a year before: - · -0.6% in a quarter
Loans
$14.6M
vs a year before: - · +3.5% in a quarter
Profit so far
-$384K
Jan 1 to Sep 30, 1984
Capital ratio
4.80%
Return on assets
-2.35%
Yearly rate
Facts
- Type
- State nonmember bank
- Head office
- 200 South 2nd Street, Cherokee, IA, 51012
- County
- Cherokee
- Holding company
- Steele Bcorp
- Established
- Jan 1, 1874
- Failed
- Jan 25, 1985
- Employees
- 18
- Id
- b17833
Quarter by quarter
March 31, 1984 to September 30, 1984
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 3
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is The Steele State Bank?
$21.9 million in total assets and $20.6 million in deposits as of September 30, 1984. Its loans were $14.6 million.
Is The Steele State Bank profitable?
No: it lost $384,000 from January 1 to September 30, 1984. Its return on assets was -2.35% a year; about 1% is typical.
Who owns The Steele State Bank?
The Steele State Bank is owned by Steele Bcorp, its holding company.
When did The Steele State Bank fail?
Jan 25, 1985. Valley BANK&TRUST of Cherokee, IA took over its deposits. The estimated cost of the failure was $3.31 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.